TON Ventures Launches with Funding of $40 Million

Bittime - TON Ventures, a new initiative led by Ian Wittkopp and Inal Kardan, has officially launched with initial funding of $40 million. 

This fund is intended to support early-stage crypto projects within the Telegram Open Network (TON) ecosystem. This step is expected to create a new generation of innovative Telegram applications.

TON Ventures Mission and Objectives

TON Ventures aims to bridge investors with developers to drive growth in the TON ecosystem. 

Backed by private investors who want to contribute to the long-term growth of the TON ecosystem, this fund will focus on startups that have great potential in leveraging TON blockchain technology. 

With funding allocated up to $500,000 per project, TON Ventures will support innovation related to new ways to send money over the internet.

Read also: What is Ton Wallet and How Does It Work?

Founder's Background

Ian Wittkopp and Inal Kardan previously played key roles at the TON Foundation as directors of the TON Accelerator and gaming sector leaders. 

With this experience, they now want to support startups with the funds they have managed to raise. 

According to Wittkopp, the fund collection process took place informally and the entire amount was collected about one month ago.

Investment Strategy

Although TON Ventures primarily targets early-stage businesses, they will also consider participating in later-stage projects, especially large protocols joining the TON ecosystem. 

Several startups that have received support from TON Ventures include Tradoor, Catizen, and Eva Protocol.

TON Ecosystem Growth Potential

Wittkopp is optimistic that early adoption of Telegram and the TON blockchain will result in the launch of companies with billion-dollar valuations. 

These companies are predicted to thrive in a variety of sectors, including decentralized finance (DeFi), advertising, gaming, and regulated financial products utilizing the TON blockchain. 

TON Ventures plans to invest in apps in these verticals as well as tools that make the process of developing and monetizing apps in the TON ecosystem easier and of higher quality.

Advantages of the TON Ecosystem

The TON ecosystem has gained momentum thanks to its unique integration with messaging app Telegram. With a Telegram user base of around 900 million monthly active users, the TON ecosystem has a significant advantage. 

Several games such as Hamster Kombat and Notcoin are already available as mini apps on the platform and enjoy strong adoption. However, there are concerns regarding the presence of bots in TON-based games. 

Wittkopp acknowledged that this is a common problem in Web3 games and added that there are mechanisms in place to detect and clean up data in open leagues.

TON Ventures is expected to be a key catalyst in driving growth and innovation in the TON ecosystem, as well as creating opportunities for developers and investors to build a more decentralized and inclusive future.

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